Bayer Schering Pharma, Berlin, Germany, prevails in litigation over domination agreement
Leverkusen – Bayer Schering Pharma prevailed today in both court proceedings concerning the domination and profit-and-loss transfer agreement concluded with Bayer subsidiary Bayer Schering GmbH. The District Court of Berlin dismissed as unfounded the action contesting the decision of the stockholders’ meeting of Bayer Schering Pharma on September 13, 2006 to approve the agreement. At the same time the Court found in favor of Bayer Schering Pharma in the special proceedings (Freigabeverfahren), ruling that the actions brought neither prevent the agreement from being entered in the commercial register nor prejudice the effects of the entry.
Bayer considers that the District Court’s ruling fully confirms its legal view of the matter. The domination and profit-and-loss transfer agreement entered in the commercial register on October 27, 2006 has since served as the basis for the comprehensive and successful integration of the former Schering Group into the Bayer Group.
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